Avanza Fonder AB Has $12.71 Million Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Avanza Fonder AB lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 54,013 shares of the home improvement retailer’s stock after selling 3,169 shares during the period. Avanza Fonder AB’s holdings in Lowe’s Companies were worth $12,708,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in LOW. Brighton Jones LLC boosted its stake in Lowe’s Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock valued at $7,889,000 after purchasing an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Lowe’s Companies by 31.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock valued at $266,000 after purchasing an additional 259 shares during the last quarter. Empowered Funds LLC boosted its stake in Lowe’s Companies by 2.1% during the 4th quarter. Empowered Funds LLC now owns 41,245 shares of the home improvement retailer’s stock valued at $10,179,000 after purchasing an additional 855 shares during the last quarter. Kestra Private Wealth Services LLC boosted its stake in Lowe’s Companies by 9.3% during the 4th quarter. Kestra Private Wealth Services LLC now owns 33,049 shares of the home improvement retailer’s stock valued at $8,156,000 after purchasing an additional 2,824 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in Lowe’s Companies during the 4th quarter valued at about $114,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 0.7%

NYSE:LOW opened at $223.59 on Tuesday. The stock has a market capitalization of $125.31 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92. The firm’s 50 day moving average is $223.49 and its 200 day moving average is $241.12. Lowe’s Companies, Inc. has a 12 month low of $206.39 and a 12 month high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.88 by $0.04. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The company had revenue of $20.93 billion for the quarter, compared to analysts’ expectations of $21.09 billion. During the same quarter in the previous year, the firm posted $3.06 EPS. Lowe’s Companies’s revenue was down 2.0% on a year-over-year basis. Research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.15%. Lowe’s Companies’s payout ratio is presently 39.77%.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total transaction of $257,075.00. Following the sale, the executive vice president now owns 31,898 shares of the company’s stock, valued at $7,256,795. The trade was a 3.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Mizuho set a $280.00 price target on Lowe’s Companies and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Piper Sandler dropped their target price on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. DA Davidson dropped their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Robert W. Baird dropped their target price on shares of Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. Finally, Sanford C. Bernstein set a $266.00 target price on shares of Lowe’s Companies and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $271.12.

Lowe’s Companies Profile

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.